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inherited Roth IRA box 7 - Distribution Code

I inherited a Roth IRA from an Aunt.  This is the first year taking the RMD from this account. Prior years RMD from from a Traditional IRA which is now closed.    In prior years, the Distribution Code was 4, which is death and pulled up the RMD questions concerning my aunt.  This year because it is a Roth, the Distribution Code is T which deals with Roth IRAs.  

 

How do I get the RMD questions to come up? The check caught it but made me fix it in the forms.  But fixing things in the Forms usually does not translate into the fix being carried into the State Filing or being imported correctly in the following year's taxes.  

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1 Reply
KrisD15
Employee Tax Expert

inherited Roth IRA box 7 - Distribution Code

If you are a non-spouse and inherited a Roth IRA, there would be no RMD. The only requirement would be to liquidate the account within 10 years. 

 

If you inherited a Traditional IRA, RMD would be required. 

You cannot change an inherited Traditional IRA  into a Roth IRA. 

 

Can you clarify your situation? 

What type of IRA did you inherit? 

What type of Inherited IRA do you now own? 

(If only one was/is Roth, how was that changed?) 

 

Are you considered a "Non-spouse" beneficiary, and therefore required to liquidate the account in 10 years? 

 

 

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